Titan, one of India?s biggest watch and jewellery brand and world?s fifth largest integrated manufacturer of branded watches, is aiming to triple its revenue this fiscal from Rs 4,600 crore to Rs 14,000 crore. An arm of the Tata Group, Titan Industries, plans to strengthen its presence in the wedding jewellery market and foray into smaller international watch markets such as Vietnam, Oman and Qatar. At present, the company markets its products to 26 countries with a large footprint in West Asia and Asia-Pacific regions.
Over the years, Titan has emerged as a strong lifestyle brand in India with top-end jewellery brand Tanishq, fashion accessories brand Fastrack and the watch brand Xylys.
It has also been selling Tommy Hilfiger and Hugo Boss range of watches in India. In April 2009, Titan unveiled its new retailing format. Under it, the company has lifestyle accessories chain Fastrack, high-end diamond jewellery boutique Zoya and pure-play watch retail format Helios, which will be ramped up to 50 outlets by 2013.
In the next five years, most of its growth will be coming from Tanishq, which will contribute Rs 10,000 crore to its kitty. The brand which is known for its everyday wear jewellery is also foraying into the wedding jewellery market. The company plans to open 50 Tanishq stores and several large format stores that will help it compete in the wedding jewellery market, which is heavily skewed towards plain gold designs that are often made-to-order from local jewelers.